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Chris Capre
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Chris Capre is a professional forex, index futures and commodities trader, specializing in Price Action & Ichimoku trading. Chris applies his methods to the markets both intraday and medium term swing trading, and has been trading for over 13 years. He is also the manager for a private fund... More
My company:
2ndSkiesForex
My blog:
2ndSkiesForex
My book:
Trading Price Action and Pivot Points
  • Weekly Forex Price Action Chart Outlook | Feb 24th - Mar 1st

    Some really interesting price action to start this week. I'm focusing on several pairs/setups, but one that intrigues me is the Euro

    EURUSD

    Consistently being sold with small pullbacks over the last two weeks, the pair has continually conceded support levels and made a series of LH's (lower highs) with the selling getting pretty aggressive last week.
    I'll look to sell rotations up towards 1.3345 or 1.3425 targeting 1.3150. Notice the bearish engulfing bar at the 20ema which started the heavy selling this last week.

    (click to enlarge)

    GBPUSD

    Getting hammered for the last 30 days, which are also 30 daily closes below the 20ema, the pair on thursday formed a counter-trend pin bar. This was definitely not a pin bar to buy, and anyone espousing this really does not understand the trends, volatility or pin bars.

    With the UK losing its AAA credit rating, I expect medium term selling to resume, so will look for corrective pullbacks into 1.5315 and 1.5415 to rejoin the trend until I see evidence of a reversal.

    Feb 24 4:54 PM | Link | Comment!
  • AUDUSD Pin Bar + Double Bottom | Feb 21st

    Hello Traders,

    Quite an interesting day for trading with some really quality setups.

    One that is interesting to me is the pin bar setup on the Aussie that formed on the daily. This pair launched higher in early Asian trading, but may offer a pullback into the pin bar range. The pin bar formed at the 1.0230 support forming a double bottom, so this bounce may have some legs.

    (click to enlarge)audusd $aud pin bar price action 2ndskiesforex.com

    Upside resistance is 1.0330 and 1.0350 which are the dynamic resistance and double top from the daily chart, so watch for corrective pullbacks into the level for possible buy signals. A failure to hold 1.0220 will setup a move towards 1.0160.

    Feb 21 7:43 PM | Link | Comment!
  • Gold Gets Hammered After Inside Bar Breakout | Feb 20th

    Hello Traders,

    After a long trip and a new computer, I'm back to posting regularly.

    Today I'm watching Gold amongst other things, but the PM got monkey-hammered today losing over $50 from top to bottom and broke a critical support at $1598. This was after an inverted pin bar + Inside Bar combo which was merely a pause in the already consistent selling.

    Now the metal is barely holding onto the $1564 support. A break here targets $1550 and a dangerous support level at $1525 which is the 2012 yearly low. If this breaks, expect a ton of stops to get tripped and likely a $5-10 selloff in price in a matter of minutes.

    I'll look for rotations back into $1598 that are corrective to sell it on a rally.

    The only buy I'd consider would be after some stabilization around $1525 should it show weakness heading into the level.

    (click to enlarge)

    Feb 20 8:07 PM | Link | Comment!
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